Finance Panel

The Clark Center for Global Markets explores finance professors’ views on vital policy issues via our Finance Panel.  We regularly poll over 40 individuals on a range of timely and relevant topics.  Panelists not only have the opportunity to respond to a poll’s statements, but an opportunity to comment and provide additional resources, if they wish. The Clark Center then shares the results with the public in a straightforward and concise format.

Please note that from September 2022, the language in our polls will use just two modifiers to refer to the size of an effect:

  • ‘Substantial’: when an effect is large enough that it would make a difference that matters for the behavior involved.
  • ‘Measurable’: when the direction of the effect is clear, but perhaps experts would differ as to whether it is substantial.
Finance

Independent Financial Regulatory Agencies

Giving the White House more direct influence over the decisions of the financial regulatory agencies would substantially improve financial stability.

Responses

© 2025. Kent A. Clark Center for Global Markets.
13%
0%
46%
26%
15%
0%
0%
 
Finance

Crypto Holdings by US Public Authorities

Question A:

Central banks' international reserves portfolios would have substantially lower risk if they were to hold a substantial portion of their reserves in crypto assets.

Responses

© 2025. Kent A. Clark Center for Global Markets.
13%
0%
56%
23%
8%
0%
0%
Question B:

The US economy would benefit substantially by borrowing money to form a strategic crypto asset reserve fund.

Responses

© 2025. Kent A. Clark Center for Global Markets.
13%
0%
56%
21%
8%
0%
3%
 
Finance

Wildfires

This Finance survey examines (a) California's insurance industry regulator issued statements shortly before and shortly after the recent wildfires started (on December 30, 2024, and January 9, 2025): https://www.insurance.ca.gov/0400-news/0100-press-releases/2024/release065-2024.cfm; https://www.insurance.ca.gov/0400-news/0100-press-releases/2025/release005-2025.cfm In the face of growing wildfire risks, price caps on insurance premiums have substantially reduced the viability of private property insurance markets in California; (b) A mandatory one-year moratorium on insurance non-renewals and cancellations would lead to a substantial longer-term reduction in the supply of private home insurance products and the number of households that are insured against catastrophic risk in areas of California affected by recent wildfires. 
Finance

Stock Market Investing

This Finance survey examines (a) In general, absent any proprietary information, a retail equity investor cannot consistently make accurate predictions about whether the price of an individual stock will rise or fall on a given day; (b) In general, absent any proprietary information, a retail equity investor can expect to do better by holding a well-diversified, low-fee, passive index fund than by holding a few stocks 
Finance

Sovereign Wealth Funds

This Finance survey examines (a) Establishing a domestic sovereign wealth fund to invest in domestic infrastructure, emerging technologies, and/or strategic sectors would bring substantial benefits to the US economy over a ten-year horizon; (b) For the US, establishing a sovereign wealth fund would be substantially better for citizens relative to reducing public debt burdens 
Finance

Cryptocurrency

This Finance survey examines (a) A bitcoin's value derives from the belief that others will want to use it, which implies that its purchasing power is likely to fluctuate over time to a degree that will limit its usefulness; b) A substantial source of the value of unbacked decentralized private cryptocurrencies, such as Bitcoin, arises from their convenience for use in illegal activities; c) A properly diversified portfolio should include crypto assets 
Finance

Trends in Banking

This Finance survey examines (a) The trend of consolidation in the US banking sector will lead to fewer, but more profitable, mega-banks with over $250 billion in assets dominating the market; (b) The current liquidity and capital regulations are inadequate to address run risks of banks in a digital era 
Finance

ESG, Shareholders, and Regulation

This Finance survey examines (a) Concerns about the environmental impact of companies are substantially better resolved by shareholder activism towards management than by regulations or government intervention; (b) Concerns about diversity, equality and inclusion within companies are substantially better resolved by shareholder activism towards management than by regulations or government intervention 
Finance

Private Credit

This Finance survey examines (a) The large increase in the market for private credit as a substitute for bank finance substantially reduces systemic risk; (b) The growth in private credit is substantially higher because of regulations that disincentivize banks from lending to below investment grade private businesses

  

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